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F ederal

reserve

bank

DALLAS, TEXAS

of

Dallas

75222

Circular No. 68-150
June 28, 1968

FOOD COUPON PROGRAM

To the Bank Addressed:

Enclosed is a revised statement of the Department of Agriculture, entitled “Procedures for
Commercial Banks in Handling Food Coupons under The Food Stamp Program.” This revised
procedure is being forwarded to member and nonmember banks in the vicinity of Bexar County,
Texas, which is among the additional areas scheduled to commence operations under the Food
Stamp Program on or about July 1,1968.
Under the provisions of this bank’s Bulletin No. 8 , “Collection of Cash Items” dated Septem­
ber 1, 1967, this bank and its branches, as fiscal agents of the United States, will pay these food
coupons and will accept them for immediate credit when received prior to 2:00 p.m. Mondays
through Fridays. Such credit will be given subject to verification and final payment, and any neces­
sary adjustments will be made under appropriate advice to sending banks.
Member and nonmember clearing banks and nonmember banks which have arranged with us
to deposit food stamp coupons for collection for credit to an account of a member bank on our books,
m a y forward the food coupons to us by means ordinarily used in forwarding checks for collection,
or the coupons m a y be forwarded by fourth-class mail (parcel post) if the instructions outlined in
paragraph C.4. of the “Procedures” are followed. The ordinary check collection channels m a y also
be used by any bank which does not elect to forward food stamps directly to us for payment.
Food coupons forwarded to this office for payment should be separately sorted from other items,
with only the total number and dollar amount of each denomination shown on the cash letter form.
For example:
1.000 Food Coupons @
1.000 Food Coupons @
2.000

$ .50 = $ 500.00
2.00 = 2,000.00
$2,500.00

It would facilitate the handling of food coupons if they were forwarded in batches of 100 where
quantity warrants.
If you have any questions regarding the food coupons collection procedure, please let us know.
Yours very truly,
P. E. Coldwell
President
Enclosures (1)

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)